Author: Gugu Lourie

Volkswagen is making significant strides in enhancing the technical learning experience at Kariega High School. By providing essential resources and support, the automotive giant is ensuring that students have access to cutting-edge technology and educational tools. The initiative not only aims to improve the quality of education but also prepares students for future careers in the ever-evolving technological landscape. The nature of work is evolving rapidly, with many traditional jobs being automated or augmented by technology. To equip the next generation with the skills they need to thrive in the digital age, it is imperative that technology and automation are…

Fabricio Bloisi has recently taken the helm as the CEO of Prosus and Naspers, two prominent global consumer internet groups. Known for his dynamic leadership and innovative approach, Bloisi’s appointment marks a significant milestone for both companies. As he steps into this pivotal role, many are eager to learn more about the man poised to lead these industry giants into the future. This article delves into Bloisi’s background, his career journey, and what his vision might mean for the future of Prosus and Naspers. Bloisi is a prominent Brazilian entrepreneur known for his significant contributions to the technology sector in…

Prosus today announced that the Boards of Prosus and Naspers have unanimously approved the appointment of Fabricio Bloisi as Chief Executive Officer (CEO), Prosus and Naspers Group. The appointment is effective as of 1 July 2024. Bloisi assumes the role of Group CEO from his role as CEO, iFood. Fabricio acquired iFood in 2013 when it was a 20-person start-up. He has since grown it rapidly and profitably to become Brazil’s leading food delivery company. Fabricio is a proven entrepreneur and innovator with deep roots in operating, building and scaling world-class technology companies within growth markets. Prosus board said it…

In a strategic move to expand its investment portfolio, Mineworkers Investment Company (MIC) has acquired a stake in Chill Beverages, the renowned owner of the premium mixer brand Fitch & Leedes. The acquisition marks a significant step for MIC as it ventures further into the beverage industry, highlighting its commitment to diversifying its holdings and supporting innovative South African businesses. The partnership is poised to enhance Chill Beverages’ market presence and drive future growth, leveraging MIC’s robust investment capabilities and industry expertise. MIC and Admaius Capital Partners, together the (Alterra Consortium), acquired a majority stake in Chill Beverages (Chill) from…

As the digital landscape in South Africa evolves, online scams have become increasingly sophisticated, posing significant risks to individuals and businesses alike. Here are ten prevalent scams to watch out for in 2024: Deepfake Impersonation Scams: Scammers use AI to create realistic fake videos or audio clips, often impersonating CEOs or family members to trick victims into transferring money. Investment Scams: Fraudulent investment schemes promise high returns. Always verify the legitimacy of the investment platform. Charity Scams: Fake charities solicit donations, especially during crises. Verify charities through reputable databases. Coronavirus Scams: Scammers exploit COVID-19 fears with fake testing kits, vaccines,…

RelyEZ, a Bloomberg’s Tier 1 provider of innovative energy storage solutions, and Veers Group – a South African renewable energy group, today announced the formation of a strategic joint venture to address South Africa’s pressing energy challenges. This collaboration represents a significant step forward in the quest for sustainable energy solutions and underlines the commitment of both companies to driving positive change in the region. The joint venture, officially incorporated as RelyEZ South Africa and led by Hashveer Singh CA(SA) with Operations Director Muneeb Gambeno and Finance Director Majdi Galvaan, will focus on leveraging the combined expertise, resources and technologies…

French media group Canal+ now owns 45.2% of MultiChoice, Africa’s biggest pay TV operator. Canal+ has acquired in on/off market transactions, a further 7,374,918 MultiChoice Shares, as follows: On Wednesday, 8 May 2024, Canal+ acquired 4,709,759 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119,66 per MultiChoice Share On Thursday, 9 May 2024, Canal+ acquired 387,354 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119,44 per MultiChoice Share On Friday, 10 May 2024, Canal+ acquired 2,277,805 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119,68 per MultiChoice Share…

Transitioning to renewable energy is more than just a means to avoid the disruptive effects of power outages for Volkswagen Group Africa (VWGA), but rather a conscious step towards reducing the environmental impact of fossil fuels. Recognising the effect of fossil fuels on global climate change, VWGA is striving to minimise its dependence on these energy sources. As the nation celebrates Energy Month in May, VWGA highlights its commitment to become carbon neutral in vehicle and component production by 2030 through its Zero Impact Factory initiatives. To this end, significant investments totalling up to R100 million have been made in…

Agri Business Network and FutureFarm today announced the launch of AgRetail on the FutureFarm platform. The AgRetail mission is to lower the cost of inputs for South African farmers. Using the FutureFarm web and mobile app, AgRetail farmer members enjoy the revolutionary convenience and transparency of comparing prices and buying commodity inputs at the push of a button. A range of Diesel, Crop Protection and Fertilizer inputs are available from launch. AgRetail is FREE and easy to join and a limited number of memberships are available during the startup phase of the venture. Gerhard Kriel, CEO of Agri Business Network…

Vodacom Group on Monday disclosed a 10.8% decline in full-year earnings, citing setbacks from Ethiopia start-up losses, increased finance and energy expenses, and inflationary forces. The company, majority-owned by Britain’s Vodafone Group, said headline earnings per share (HEPS) dropped to R8.46 in the year ended 31 March, versus R9.48 a year earlier. In 2022, Vodacom co-launched Safaricom Ethiopia in partnership with a consortium, banking on the potential growth of the populous nation. Vodacom holds a direct 5.7% stake in the venture. “A combination of start-up losses in Ethiopia, higher finance and energy costs, the impact of absorbing inflationary pressures, and…

Design is a dynamic discipline. Take, for instance, the humble automobile. Today’s vehicles look exceedingly different to those of years gone by, having evolved in dimensions, proportions, ergonomics and indeed overall styling. The global automotive market’s inevitable shift towards electric vehicles (EVs) has accelerated this usually fairly gradual change, since dedicated flat-floor platforms (as opposed to underpinnings created to accommodate internal combustion engines) have afforded designers far greater freedom. It’s a similar case inside, though perhaps for other reasons. Yes, the modern car’s uncluttered dashboard is a far cry from the button-festooned facias of vehicles from just a few short…

In a time where dedication to groundbreaking technological advancements that tackle local issues is central to the global business scene, it’s crucial to recognise the trailblazers who reshape entire industries. Joanna Govender, a South African executive serving as CEO of EPF Tech Fund and Empire Partner Foundation, has been recognised with a 2024 Global Recognition Award for her significant achievements in merging technology with social impact through her leadership at EPF and EPF Tech Fund. Global Recognition Awards is an international organisation that recognises exceptional companies and individuals who have significantly contributed to their industry. Their awards are highly regarded and sought…

South Africa’s sophisticated banking system has allowed consumers to opt into multiple payment methods, all suited to their lifestyles and personal choices. The Mastercard 2022 survey found that 95% of South African consumers used ‘at least one digital payment method, while the National Treasury announced that it was promoting cashless payment methods for low-value payments with tap and go cards. Woolworths announced it was going cashless in its WCcafé’s and FNB said cashless payments in 2023 accounted for 50% of its card payments. The ability to tap and go makes life easier and more convenient, but Richard Frost, Product Head…

Shoprite Group recently opened its 20th UNIQ clothing shop at Sandton City Shopping Centre and promises to open another 20 shops by 2024. Last month, Shoprite Group-owned clothing brand UNIQ by Checkers opened another shop at the brand new Linton’s Mall in Pretoria East – making it the 20th shop since the launch of UNIQ in 2023. The company intends to open new shops in regional malls, regional shopping centres and very select premium shopping centres. The new clothing shops under the UNIQ brand have been planned with RFID-based self-service checkouts instead of traditional checkouts. This will provide customers with…

French media group Canal+ announced today that it has acquired more shares in MultiChoice, the operator of Africa’s biggest pay-TV operator DStv. Canal+ has acquired in on/off market transactions, a further 3,868,391 MultiChoice shares, as follows: On Thursday, 25 April 2024, Canal+ acquired 1,001,970 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 118.05 per MultiChoice Share On Friday, 26 April 2024, Canal+ acquired 630,132 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119.11 per MultiChoice Share On Monday, 29 April 2024, Canal+ acquired 1,287,091 MultiChoice Shares in on/off market transactions for an…

As we approach June 2024, we’re on the brink of commemorating three decades of fostering connections and driving meaningful value,” shares Mcebisi Jonas, Group Chairman. He wrote in the group’s latest annual report published today, stating: “As we continue to navigate the macro-challenges in our trading environment, we reflect with both pride and humility on the progress of the business over the past three decades. “This has been powered by the dedication and resilience of MTNers, as well as the support of so many different people and institutions, including customers, governments and regulators, investors, suppliers and civil society. This embodies…

In 2023, the salary of MTN CEO Ralph Mupita experienced a noteworthy surge, reaching a staggering R80.3 million. This increase amounted to an additional R11 million compared to previous earnings, marking a significant development in his compensation package. Mupita received dual salaries, one in US dollars and the other in rands, as explained by MTN. This arrangement stemmed from his dual contract split between MTN Dubai and MTN Group Management Services South Africa. The telecommunications group listed on the JSE disclosed in its integrated annual report, released today, that Mupita’s total “earned” remuneration, encompassing salaries, pension, short-term incentives, and vested…

In 2023, Sungrow – the global leading PV inverter and energy storage system provider – saw a remarkable surge in operating revenue, soaring by 79.5% to reach an impressive $10.2 billion. Simultaneously, its net profit attributable to shareholders surged significantly by 162.7% to $1.3 billion. These figures highlight Sungrow’s outstanding performance and substantial growth during the year. This robust growth was primarily attributed to the company’s expanding customer base and increasing market share in key regions. The company experienced a remarkable surge in PV inverter shipments, surpassing 130GW, signaling a widespread adoption of solar energy worldwide. Additionally, Sungrow’s sales of…

Coinciding with Freedom Day in South Africa, Apollo Brand on Saturday unveiled the “Under Armour Icon Brand House” – the latest addition to Sandton City, a hub renowned across Africa. Was Under Armour channeling the spirit of freedom to liberate sportswear enthusiasts from the confines of traditional brands, I wondered. Apollo Brand is the exclusive distributor of Under Armour in the region. Was this timing deliberate? To find out, I probed Brent Collinicos, GM of Apollo Brand Pty Ltd, on the choice of this auspicious day for the store’s opening. With a wry smile, Collinicos responded: “This has been in…

Introstat, a long-standing player in the South African print and IT solutions market, has recently made significant strides in its business strategy, particularly in the realms of diversity, equity, and inclusion (DE&I). Partnering with HP through the Amplify Impact programme, Introstat has not only enhanced its business but also contributed to a brighter future for its employees, the community, and the industry at large. Founded in 1989, Introstat has been a key player in the IT solutions landscape of South Africa, with offices and distribution centres in Johannesburg, Cape Town, and Durban. The company’s journey intertwines with HP’s, dating back…

French media group Canal+ today announced it has acquired additional shares In MultiChoice, the operator of Africa’s biggest pay-TV – DStv. Following a significant increase in its ownership stake, Canal+ has triggered a mandatory offer to minority shareholders of MultiChoice Group. This action was necessitated after surpassing a predefined threshold established by the JSE. In accordance with JSE regulations, when an individual or entity acquires at least 35% of a listed company, a mandatory offer must be extended to other shareholders under terms agreed upon with the main exchange. Canal+ has put forth a mandatory offer to acquire all outstanding…

Just weeks after revealing that Imtiaz Patel would remain as chairman to manage a potential deal with Groupe Canal+, MultiChoice Group has now announced Patel’s immediate departure from the position. This decision arises amidst growing worries about corporate governance within the broadcasting company, currently under a takeover proposal by France’s Canal+. In an unexpected turn of events, MultiChoice disclosed on April 2nd, after a board meeting ahead of the Easter weekend, that it was retracting an earlier statement regarding Patel’s planned resignation. The board had previously announced that Elias Masilela would assume the chairmanship starting April 1st. “In view of…

In the dynamic world of banking, Capitec has emerged as a beacon of innovation, not only catering to the masses but also attracting higher-income clients with a suite of compelling offerings. With a strategic focus on providing value, purpose, and accessibility, Capitec’s rise in the higher-income segment is a testament to its commitment to inclusivity and customer-centric banking. Capitec’s success in attracting higher-income clients is evident in its remarkable growth. Clients with monthly inflows exceeding R15,000 into their Capitec accounts have surged by an impressive 17%. the company says this growth can be attributed to a range of innovative offerings…

In the bustling landscape of South Africa’s banking sector, one institution stands out for its innovative approach and exponential growth: Capitec. Capitec has embraced the digital age with open arms, revolutionising the way people interact with their finances. With staggering statistics highlighting its success, Capitec’s journey from a newcomer to a dominant force in banking is nothing short of remarkable. A Digital Frontier Capitec’s meteoric rise in the digital banking is evidenced by its impressive user statistics. The Capitec App has become an integral part of daily life for over 500,000 users every hour, boasting a remarkable increase of 180,000…

Capitec’s robust financial performance for the year ending February 2024 was fueled by the expansion of digital transactions and customer numbers, resulting in a profit surge of more than 15%. Headline earnings grew to R10.6 billion from the restated headline earnings of R9.2 billion in 2023. Headline earnings for the 6 months ended February 2024 (H2 2024) grew by 25% to R5.9 billion compared to the headline earnings of R4.7 billion for the 6 months ended August 2023 (H1 2024). “Our long-term strategy to diversify our income streams and grow quality clients produced double-digit growth in a financial year where…